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Reserve Bank of Australia (RBA) Excursion

Certificate IV, Diploma of Accounting and also Diploma of Financial planning students and educators went on an excursion to visit “The Reserve Bank of Australia ”.

The Reserve Bank of Australia (RBA) is Australia’s central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation’s banknotes.

The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia’s gold and foreign exchange reserves.

We first met Sarah and Kelly (RBA representatives) with a big warm welcome. Students watched and listened to Adam’s presentation (RBA economist) and learnt about RBA’s roles and responsibilities in the Australian and global economy.

Doung came from RBA Note Department and explained how to produce notes and its securities with so many samples (very interesting). Then, we visited the RBA museum and learnt about the history of Australian coins, notes and its designs etc.

It was such a fantastic opportunity and a fun day for us. Many thanks to RBA for allowing us to have this memorable experience.